DailyTech - Steve Jobs Stands to Receive $3.5 Billion USD in Disney's Planned Takeover of Pixar

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IT Steve Jobs Stands to Receive $3.5 Billion USD in Disney's Planned Takeover of Pixar
Brandon Hill (Blog) - January 24, 2006 5:30 AM

10 comment(s) - last by Visual.. on Jan 25 at 6:42 AM

Disney moves to takeover Pixar Animation Studios

Steve Jobs must be a happy man right now about the company he created back in 1995. Today, board members of Pixar Animation Studios are scheduled to meet to approve a $7.5 billion takeover bid by Disney. As a result, Steve Jobs will become the largest individual shareholder of Disney stock and will pocket about $3.5 billion as a result of the transaction. Pixar's five feature films released in conjunction with Disney have raked in $3.2 billion since the 1995 release of Toy Story.

The Disney - Pixar relationship has not always been rosy as Steve Jobs and former Disney CEO Michael Eisner constantly butted heads. Their feuding in January of 2004 finally led to a breakdown of talks to extend Disney's rights to distribute Pixar films past 2006.

Pixar's next feature film, Cars, is due to hit theaters on June 9th.

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Jobs has the last laugh

By Lord 666 on 1/24/2006 7:29:25 AM , Rating: 2

Now as the majority controller of Disney, he should have Epcot rip out all of the lame Compaq displays and replace them with an Apple Pavilion.

What's going to come next, the Mickey Mouse Edition iPod and other child-centric versions?

But the best last laugh comes against Bill Gates. Steve started Pixar from scratch and now 11 years later is the majority owner of Disney. Gates could have bought his way into Disney, but Steve earned it.

Good show mate.

RE: Jobs has the last laugh

By GonzoDaGr8 on 1/24/2006 8:46:41 AM , Rating: 3

[quote]Steve started Pixar from scratch[/quote]
Not really..He bought the company from George Lucas for a mere pittance after Lucas got divorced. All Jobs wanted the company to do was sell computer/graphics software combinations. Disney came up with the idea that this company should make an animated full-length movie. They even funded it, Saving Pixar's butt from going under. Read the book "Icon", and you shall see that there is a LOT more to this...

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RE: Jobs has the last laugh

By FrozenCanadian on 1/24/2006 10:12:54 AM , Rating: 2

I was also under the impression that Lucas started Pixar, so I popped in the bonus materials DVD from the Star Wars Trilogy DVDs. In the "Empire of Dreams" documentry Chapter 11 about 40 seconds into the chapter they say: In 1995 Lucas created the Pixar computer and later sold the division.

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RE: Jobs has the last laugh

By nineball9 on 1/24/2006 8:52:28 AM , Rating: 2

"the largest shareholder of Disney stock" is not the majority owner. Plurality does not mean absolute majority.

In addition, the linked article omitted an important word - "individual"; other reports state "the largest individual shareholder of Disney stock ... "

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RE: Jobs has the last laugh

By raskren on 1/24/2006 9:27:48 AM , Rating: 2

Oh really? I didn't know this was a Jobs vs. Gates contest. In that case, Gates could buy Jobs, his wife, kids, house, dog, cars...

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Huh?

By Questar on 1/24/2006 9:38:39 AM , Rating: 2

"Their feuding in January of 2004 finally led to a breakdown of talks to extend Apple's rights to distribute Pixar films past 2006."

APPLE?

RE: Huh?

By Jackyl on 1/24/2006 10:29:43 AM , Rating: 2

I almost got Pixar confused with Dreamworks. Dreamworks is the one that always makes fun of Disney characters. It would be strange if Disney bought out Dreamworks too.

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RE: Huh?

By blckgrffn on 1/24/2006 1:27:58 PM , Rating: 3

Guess who cofouned Dreamworks :p

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LOL

By tuteja1986 on 1/24/2006 7:30:21 AM , Rating: 2

good thing has been happening to him : ipod sales are high , MAC Intel transition is going great and Apple share on the rise and now this. Must be his golden year for him :)

RE: LOL

By Visual on 1/25/2006 6:42:31 AM , Rating: 2

Dude, 3.5 billion dollars must be like... a golden century or three, not a year. Golden lives for himself and his kids and grandgrandgrandgrandkids...

Hell that's probably enough money to solve world hunger or somesuch.

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